Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) ('Alexco' or the 'Company') today reported initial results from its ongoing Bermingham Northeast Deep zone infill and extension drilling program in the Keno Hill Silver District, Yukon Territory.

2021 Exploration Results Highlights

The 2021 exploration drilling program is currently approximately 80% complete with assays available from the first 24 holes reported here. The drilling program is focused at depth northeast of the Bermingham deposit that contains silver mineral resources of 32.96 million ounces ('Moz') Indicated (including 18.2 Moz Probable Reserve) and 11.74 Moz Inferred.

Interim results confirm the presence of an approximate 500 m long sub horizontal mineralized zone with at least a 100 m vertical extent located approximately 150 m below the Bermingham Northeast mining reserve. To achieve an accurate intersection pattern at depth, directional core drilling (HQ and NQ) is being used to ensure a robust resource estimation can be completed as planned in Q4 2021.

About Alexco

Alexco is a Canadian primary silver company that owns and operates the majority of the historic Keno Hill Silver District, in Canada's Yukon Territory, one of the highest-grade silver deposits in the world. Alexco is currently advancing Keno Hill to commercial production and commenced concentrate production and shipments in the first quarter of 2021. Keno Hill is expected to produce an average of approximately 4.4 million ounces of silver per year contained in high quality lead/silver and zinc concentrates. Keno Hill retains significant potential to grow and Alexco has a long history of expanding the operation's mineral resources through successful exploration

Contact:

Clynton R. Nauman

Tel: (778) 945-6577

Email: info@alexcoresource.com

Web: www.alexcoresource.com

Forward-Looking Statements

Some statements ('forward-looking statements') in this news release contain forward-looking information concerning Alexco's anticipated results and developments in Alexco's operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future, made as of the date of this news release. Forward-looking statements may include, but are not limited to, statements with respect to the future remediation and reclamation activities, future mineral exploration, the estimation of mineral reserves and mineral resources, the realization of mineral reserve and mineral resource estimates, future mine construction and development activities, future mine operation and production, the timing of activities and reports, the amount of estimated revenues and expenses, the success of exploration activities, permitting time lines, requirements for additional capital and sources and uses of funds. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors, which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results and timing of exploration and development activities; actual results and timing of mining activities; actual results and timing of environmental services activities; actual results and timing of remediation and reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of silver, gold, lead, zinc and other commodities; possible variations in mineable resources, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; First Nation rights and title; continued capitalization and commercial viability; global economic conditions; competition and delays in obtaining governmental approvals or financing or in the completion of development activities. Forward-looking statements are based on certain assumptions that management believes are reasonable at the time they are made. In making the forward-looking statements included in this news release, Alexco has applied several material assumptions, including, but not limited to, the assumption that Alexco will be able to raise additional capital as necessary, that the proposed exploration and development will proceed as planned, and that market fundamentals will result in sustained silver, gold, lead and zinc demand and prices. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Alexco expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

(C) 2021 Electronic News Publishing, source ENP Newswire